A MEGA list of items are up for auction after an end of lease liquidation. The company was based in Paget, but 12 months ago, shifted their business strategy from mining to solar energy. However, when they moved from the mining sector they were still bound by a lease – until now. Mackay online auctioneer…
What insight into the future of Arrium in Whyalla can be drawn from looking at Liberty Steel’s operations in Scotland? The British company, run by billionaire entrepreneur Sanjeev Gupta, is revitalising the South Australian steelworks after they went into voluntary administration. ABC Radio Adelaide‘s Sonya Feldhoff was recently given the opportunity to tour one…
FIVE extra fields, lighting, a new clubhouse and seating are all part of a 10-year master plan for Magpies Sporting Club as it prepares for rapid expansion due to the changing demographic of Mackay’s sporting community and the impending start of a new state team. The Magpies Crusaders United are preparing to debut in the…
NEW DELHI: Homebuyers in Jaypee Infratech projects, except for a few towers in its Aman project, will have to fill up forms to register their claims for the corporate insolvency resolution process against the company. In a meeting on Monday between Jaypee Infratech MD Manoj Gaur, the insolvency resolution professional (IRP) Anuj Jain, officials from…
NEW DELHI: After Jaypee Infratech, the process of corporate insolvency resolution under the insolvency and bankruptcy code is likely to be initiated against three Amrapali group companies -Noida’s Silicon City and Greater Noida-based Ultra Home Construction and Amrapali Infrastructure -on the plea of Bank of Baroda. A bank official said the National Company Law Tribunal‘s…
Ten has defended its market disclosures in the lead up to its appointment of administrators. Ten Network says it did not tell shareholders that James Packer was pulling the plug on his financial support for the troubled broadcaster because his backing was not a factor in its share price. Ten administrator Kordamentha said on Tuesday…
With the news of a well-known building company facing insolvency move, Indian star cricketers MS Dhoni (former brand ambassador of the firm) and Harbhajan Singh faced flak from those who invested their money in the real estate firms projects. Reports have emerged that the process of corporate insolvency resolution, under the Insolvency and Bankruptcy Code…
National Company Law Tribunal (NCLT) is finding it difficult to get qualified judges to meet the growing demand of bad loan resolution cases filed by bankers and corporates. The NCLT is adding new Benches and interviewing more judges to keep pace with the cases being admitted. But yes, it is becoming more challenging to get qualified…
The National Company Law Appelate Tribunal (NCLAT) has dismissed an appeal by builder Neelkanth Township against bankruptcy proceedings, saying its reference to a 1963 law that prescribes a time limit to initiate recovery of loans is not applicable. The decision may allow small-ticket lenders to recover their money. Several operational and smallticket lenders who had…
Ten Network says it did not tell shareholders that James Packer was pulling the plug on his financial support for the troubled broadcaster because his backing was not a factor in its share price. Ten administrator Kordamentha said on Tuesday that the broadcaster first learned on May 2 that Mr Packer’s Consolidated Press Holdings would…